MENA News
Discover the latest blockchain and crypto news from the MENA region, including updates from Dubai, Abu Dhabi, Bahrain, Qatar, and Oman, covering trends, regulations, and developments shaping the industry
British FinTech giant Revolut is set to expand its footprint into Gulf Cooperation Council (GCC) countries, with specific plans to target the United Arab Emirates (UAE) and Saudi Arabia. As Revolut seeks regulatory approval to operate as an electronic-money institution in the UAE, the question arises: How far will Revolut go in expanding its crypto services in the region? On May 7, 2024, Revolut unveiled Revolut X, a stand-alone cryptocurrency…
Read More »The Qatar Financial Centre (QFC), a leading onshore financial and business hub, has officially launched its QFC Digital Assets Lab. This initiative marks a remarkable step in advancing Qatar’s digital ecosystem, with 24 participants selected through a rigorous screening process to join the lab. The chosen innovators, including notable companies such as ALT Realtech, Bladelabs, Polygon, and Partior, will develop transformative solutions across diverse industries. The lab will support their…
Read More »In an exciting development for gamers across the GCC, Hyperfusion, the region’s largest provider of AI computing power, has partnered with The Game Company, a leader in gaming technology. This strategic alliance aims to elevate gaming experiences by harnessing Hyperfusion’s state-of-the-art GPUs and advanced software, alongside The Game Company’s AI-powered gaming platform. Players can now expect near-lag-free, high-performance gaming on any device, anytime, and anywhere. Addressing the Demand for High-Performance…
Read More »Binance, the leading blockchain ecosystem behind the world’s largest cryptocurrency exchange by trading volume and users, is gearing up for the highly anticipated sixth edition of Binance Blockchain Week. Taking place in Dubai at the Coca-Cola Arena from 30-31 October, the event will bring together some of the leading industry voices in the global crypto world and beyond. Hosted under the theme “Momentum,” the conference will explore the current state of…
Read More »Under the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, Chairman of The Executive Council of Dubai, and Chairman of the Higher Committee for Future Technology and Digital Economy, the Dubai AI & Web3 Festival organised by the Dubai AI Campus in strategic partnership with DIFC and the Minister of State for Artificial…
Read More »Digital assets management firm XBTO has secured in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to begin operations in the UAE. The firm, which provides digital asset services for institutional investors outside the US, will continue to run its existing offices in Bermuda, London, and Paris, while leveraging its Abu Dhabi presence to better serve clients in the Middle East, according to…
Read More »DMCC, the world’s leading free zone and Dubai Government Authority on commodities trade, has launched the DMCC AI Centre, a new innovation platform aimed at accelerating the adoption of artificial intelligence (AI) and developing practical AI applications across the MENA region. During the launch event, attended by over 60 prominent figures, including H.E. Khalfan Belhoul, CEO of Dubai Future Foundation (DFF), and Dr. Marwan Alzarouni, Chief AI Officer of the…
Read More »Standard Chartered has announced the launch of its highly anticipated digital asset custody service in the UAE. Licensed by the Dubai Financial Services Authority (DFSA) within the Dubai International Financial Centre (DIFC), this service marks a key milestone in the bank’s digital asset strategy. Initially, it will support Bitcoin and Ethereum, the two largest cryptocurrencies by market capitalization. The UAE was chosen as the launchpad due to its balanced approach…
Read More »Leading provider of digital asset infrastructure, Ripple, has renewed its strategic partnership with NYU Abu Dhabi through its University Blockchain Research Initiative (UBRI). This extension reinforces Ripple’s commitment to advancing blockchain research and supports innovative student initiatives in the region, bringing the total funding for NYU Abu Dhabi’s research projects and student initiatives to over $1 million. Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, stated, “Ripple…
Read More »In a remarkable move to enhance the UAE’s position as a global leader in virtual assets, the Securities and Commodities Authority (SCA) and Dubai’s Virtual Assets Regulatory Authority (VARA) have entered a pivotal agreement to strengthen the regulatory framework for virtual asset service providers (VASPs) in the UAE. This agreement will establish comprehensive rules and procedures for licensing and supervising VASPs and their related activities, in line with Cabinet Decision…
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